UPDATE 1-Asia Morning Call-Global Markets

11 Min Read

June 5 (Reuters) -
Stock Markets Net Chng Stock Markets Net Chng
S&P/ASX 200** 6,025.50 35.10 NZX 50** 8,636.16 -22.63
DJIA** 24,813.69 178.48 NIKKEI** 22,475.94 304.59
Nasdaq** 7,606.460 52.128 FTSE** 7,741.29 39.52
S&P 500** 2,746.97 12.25 Hang Seng** 30,997.98 505.07
SPI 200 Fut 6,003 -23.00 STI** 3,467.48 39.97
SSEC** 3,091.1909 16.05 KOSPI** 2447.76 8.80
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Bonds Net Chng Bonds Net Chng
JP 10 YR Bond 0.048 -0.001 KR 10 YR Bond 2.733 0.03
AU 10 YR Bond 2.741 0.003 US 10 YR Bond 2.9442 0.049
NZ 10 YR Bond 2.825 0.055 US 30 YR Bond 3.0848 0.038
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Currencies Net Chng Net Chng
SGD US$ 1.3366 -0.0021 KRW US$ 1,069.77 0.44
AUD US$ 0.76485 0.00795 NZD US$ 0.7025 -0.0002
EUR US$ 1.1703 0.0005 Yen US$ 109.79 -0.01
THB US$ 31.99 0 PHP US$ 52.539 0.002
IDR US$ 13,867 -23 INR US$ 67.06 0.07
MYR US$ 3.97 -0.007 TWD US$ 29.82 -0.044
CNY US$ 6.4027 -0.013 HKD US$ 7.8453 0.0001
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Commodities Net Chng Net Chng
Spot Gold 1,291.58 -1.16 Silver (Lon) 16.364 0.012
U.S. Gold Fut 1,295.9 -3.4 Brent Crude 75.5 -1.29
Iron Ore CNY462.5 4 TRJCRB Index - -
TOCOM Rubber JPY189.2 -1.2 LME Copper 6,986.5 90.5
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** indicates closing price
All prices as of 21:13 GMT
EQUITIES
GLOBAL - World stock indexes and Treasury yields climbed on Monday, while the
dollar fell to a two-week low as political tensions in Europe eased.
Italy's anti-establishment parties formed a coalition government on Friday to end
three months of political deadlock.
For a full report, click on
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NEW YORK - Wall Street's three major indexes rose on Monday, led by a rally in tech
stocks, pushing the Nasdaq to a record closing high as investors bet on a continuation
of strong economic growth, while falling oil prices weighed on the energy sector.
Apple shares rose to their highest ever due to investor bets on its annual
developers conference and Microsoft impressed with an acquisition, pushing the
S&P 500 technology index to a record high, while Amazon.com led
consumer stocks higher.
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LONDON - European shares extended a recovery on Monday as dealmaking took centre
stage after a week of political tension in Italy and Spain as well as friction between
the United States and its allies over trade policies.
Investors' concerns over trade were overshadowed by very strong U.S. jobs data on
Friday, which helped Wall Street to rise for a second day on Monday. Europe's STOXX 600
gained 0.3 percent and Germany's DAX 0.4 percent.
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TOKYO - Japan's Nikkei share average rose to a one-week high on Monday, tracking
Friday's Wall Street's gains after May jobs data pointed to strength in the U.S.
economy, while a weaker yen lifted shares of Japanese exporters.
The Nikkei ended up 1.37 percent at 22,475.94 after going as high as
21,515.72, its highest since May 28.
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SHANGHAI - China stocks ended higher on Monday, aided by a rebound in consumer and
real estate shares.
The blue-chip CSI300 index rose 1.0 percent to 3,807.58, while the
Shanghai Composite Index rose 0.5 percent to 3,091.19.
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AUSTRALIA - Australia shares are expected to lose steam on Tuesday, with oil prices
and iron-ore shedding about 2 percent each, bearing threat to energy and material
stocks.
The local share price index futures fell 0.4 percent, a 22.5-point
discount to the underlying S&P/ASX 200 index close. The benchmark climbed 0.6
percent on Monday.
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SEOUL - South Korea's KOSPI stock index rose along with Asian peers on
Monday after strong U.S. jobs report bolstered optimism in the world's largest economy
and offset worries that tariff wars between the United States and the rest of the world
could retard global economic growth.
As of 0632 GMT, the KOSPI was up 8.80 points or 0.36 percent at 2,447.76.
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FOREIGN EXCHANGE
NEW YORK - The dollar dropped to a two-week low on Monday, as easing political
tensions in Italy lifted the euro and global trade concerns resurfaced after China
warned the United States against tariffs and other protectionist measures.
In late trading, the dollar index fell 0.2 percent to 94.046, hitting a
two-week trough of 93.664.
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CHINA - China's yuan eased against the dollar on Monday, dragged lower by a weaker
official yuan midpoint and rising corporate dollar demand which consolidated following
Friday's solid U.S. job data.
Prior to the market opening, the People's Bank of China set the yuan midpoint
at 6.4208 per dollar, 130 pips or 0.2 percent weaker than the previous fix
of 6.4078 last Friday.
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AUSTRALIA - The Australian dollar sprung to a six-week top on Monday after
surprisingly robust first-quarter data pointed to stronger than expected economic
growth.
The Australian dollar climbed to $0.7615, a level not seen since April 24.
The Aussie faces stiff chart resistance around $0.7600. If it is able to sustain the
move above current levels the next stop is seen at $0.7655.
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SEOUL - South Korea's won rose along with Asian peers on Monday after
strong U.S. jobs report bolstered optimism in the world's largest economy and offset
worries that tariff wars between the United States and the rest of the world could
retard global economic growth.
The won was quoted at 1,071.9 per dollar on the onshore settlement platform
KRW=KFTC, 0.29 percent firmer than its previous close at 1,075.
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TREASURIES
NEW YORK - U.S. Treasury yields rose on Monday with the 10-year yield hitting
one-week highs as investors pared safe-haven holdings of lower-risk government debt due
to fading fears about political turmoil in Italy and Spain.
A robust U.S. payrolls report in May renewed an upbeat outlook for faster domestic
growth and inflation, rekindling expectations the Federal Reserve may consider raising
rates three more times in 2018, analysts said.
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LONDON - A rally in southern European bond markets gathered pace on Monday as
investors took comfort from the creation of a government in Rome that ended months of
political turmoil and a relatively smooth handover of power in Spain.
The gap between 10-year Italian and German government bond yields - a closely
watched indicator of relative risks - narrowed to 211 basis points.
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TOKYO - Japanese government bond prices dipped across the board on Monday, as
equities rose to one-week highs and dented investor demand for safe-haven debt.
The five-year yield and the 10-year yield were each
half a basis point higher at minus 0.110 percent and 0.045 percent, respectively.
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COMMODITIES
GOLD
Gold prices were barely changed on Monday, supported by a wilting dollar as Italian
political risk receded, though the prospect of another rise in U.S. interest rates
capped gains.
Spot gold was flat at $1,292.90 per ounce by 1:34 p.m. EDT (1734 GMT), while
U.S. gold futures for August delivery settled down $2, or 0.2 percent, at
$1,297.30.
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IRON ORE
Chinese iron ore futures dropped nearly 2 percent on Monday as steel prices
retreated and stockpiles of the steelmaking raw material at China's ports surged to
record levels.
Iron ore stocked at China's major ports reached 161.98 million tonnes on Friday, up
1.4 million tonnes from the previous week, data tracked by SteelHome consultancy
showed. The inventories have risen 9 percent this year.
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BASE METALS
Copper prices rose on Monday, helped by a weaker dollar and the potential for
supply problems as wage talks began at the world's largest copper mine.
The union at BHP's, Escondida mine in Chile said on Friday that it
had begun negotiations with a proposal that includes a bonus of about $34,000 per
worker.
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OIL
Oil prices fell about 2 percent on Monday, with U.S. crude touching its lowest
level in nearly two months, breaking below technical support levels as investors kept
selling amid growing U.S. production, possible global supply growth and nagging trade
tensions.
Brent crude futures lost $1.50 a barrel, or 2 percent, to settle at $75.29
a barrel. U.S. crude ended $1.06, or 1.6 percent, lower at $64.75 a barrel,
after earlier touching $64.57, its lowest since April 10.
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PALM OIL
Malaysian palm oil futures fell more than 1 percent on Monday as traders were
expecting build up in stockpiles due to sluggish export demand.
The palm oil contract for August delivery on the Bursa Malaysia
Derivatives Exchange was down 1.31 percent at 2,407 ringgit ($606.30) a tonne by the
close.
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RUBBER
Benchmark Tokyo rubber futures rose on Monday, helped by a weaker yen against the
U.S. dollar and a rally in the Tokyo stock market as strong U.S. jobs data offset fears
that trade wars between the United States and the rest of the world could slow global
economy.
Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in
Southeast Asia, rebounded from a two-week low hit on Friday.
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(Bengaluru Bureau; +91 80 6749 1130)